Understanding Foreclosure Steps
Hey all, I am here again, I have been stressed and working so I need to dedicate time to keep learning , but believe me each day we learn something.
I am wondering the process of how someone gets in trouble in a foreclosure
I imagine that this depends on each state but let me know if I am going good what I know or I have heard.
1) 2 - 4 months to be in default to receive
2) Receive a Pre-Foreclosure notices that if you do not pay the house will be sold
3) They give you 60 days when you receive the notice you do not pay the house is sold, you pay whatever you owe , you keep the house , Am I right ?
Also I have a question, do you have charges when you are within of the 60 days ? or just the late payemtns of the defaults ?
4) The house is sold if you did not cover all the defaults
5) After the house is sold, you have 75 Days redemption period, that is on my Sate, Colorado, I know that it varies in other states, within of the 75 days wich charges you need to cover ? like lawyers, past taxes, etc ? let me know wich charges maybe you can get involved to recover your property there
6) If you did not pay you loss the house or if you pay everything you keep the house
Am I right ? I am missing steps ? I want to understand very well what happens in a pre foreclosue and foreclosure process, the charges, the days, etc, I read the FAQ about the foreclosures and I know that all the sates have different regulations, laws, etc, I am aware of that,
Please help me to understand better this thank you
Ray
6)
Thanks for the fast reply guys, anyway, I found out my questions, searching and digging out for this steps, LOL
but thanks for everything again
I am pretty new and just wanted to know if you were right